Run that bit by me again?I'm currently coming under financial pressure and was considering taking a payment break on my mortgage
I'll be taking out a new car loan [...] in January
Run that bit by me again?
[Post crossed with tara83's]
Its a 5 year loan, taken out in early 2006 and the payments are 800 per month.
That depends on a number of factors. If you are 100% sure that you can manage the increased mortgage repayments over 10 months, then on the face of it this solution would seem to be the least costly way of solving a temporary problem.If I send them a letter asking to cancel my payments for December and January they'll add the missed payments onto the following 10 months.
So my monthly payments will go up a couple of hundred for those months.
I can probably manage that once I get out of the hole I'm in.
Good or Bad idea??
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